Abstract: The mechanical response of Inconel 718 high temperature alloy during ultrasonic rolling was analyzed. The main parameters of the finite element model were determined by Hertz contact theory and the ultrasonic rolling finite element model considering structure rebound after unloading was established. The residual stress distribution and plastic strain distribution were simulated and analysed, and compared with the experimental results to verifying the reliability of the model. The results show that compared with the simulation without considering the structure rebound, the simulation considering the structure rebound showed an increase in the residual compressive stress on the surface layer and the influence depth of the residual compressive stress, which was closer to the experimental results. The relative error of the influence depth of residual compressive stress decreased from 17.93% without considering structure rebound to 1.09% considering the structure rebound. The finite element model considering the structure rebound had high reliability and could accurately describe the strain trend characteristics within the layer depth of 25–175 μm, the test results had a consistent incremental response with the experimental results.